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Firm to raise $48m for Bahrain hotel projectWork stalled at the Banader Rotana Hotel project in Bahrain is expected to resume shortly as the developer Banader Hotels Company secures the additional $47.7 million funding needed for completion, officials said. "We are in More… |
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Regulations, expectations stymie funds in MEAcross much of the Middle East, economic growth is strong and financial markets are picking up. But there is surprisingly little cheer in the region's asset management industry, which faces continued pressure to cut costs a More… |
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Gold hits 1-week low as funds sellGold hit its lowest in a week on Thursday, pressured by heavy fund liquidation a day after European Commission documents showed Cyprus must sell around 400 million euros' ($523 million) worth of gold reserves under its bailout. More… |
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DIB repays $1.2bn UAE emergency fundsDubai Islamic Bank (DIB) has repaid the entire amount of Dh3.75 billion ($1.02 billion) it had received in emergency funds from the UAE Ministry of Finance in 2008 to cope wit the global financial crisis. Announcing the achievemen More… |
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Gulf Capital sees assets doubling in five yearsAbu Dhabi-based private equity firm Gulf Capital expects assets under management to double by 2018 as it launches new funds to invest across the Middle East, its chief executive said on Monday. Gulf Capital manages close to $2 bil More… |
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NBAD to repay $1.5bn UAE emergency fundsNational Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, said it will repay the entire amount of Dh5.6 million ($1.5 billion) it had received in emergency funds from the UAE government during the global financial crisis. More… |
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Mena-domiciled funds assets soar to $89.6bnThe total assets of funds domiciled in the Middle East and North Africa (Mena) region increased by three per cent in the first half of 2012 to hit $89.6 billion from $87.8 billion at the the end of 2011 on the backing of a major surge in money m More… |
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Etihad Rail gets $1.3bn funding for phase I buildEtihad Rail, the developer of a $11 billion railway network in the UAE, secured a $1.28 billion five-year project financing from local and international banks to build the first phase of the project, it said on Tuesday. The UAE ra More… |
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$50 billion left Russia illegally in 2012Nearly $50 billion was transferred out of Russia illegally in 2012 and more than half this sum may have been controlled by a single group of people, the central bank said on Wednesday. Sergei Ig More… |
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UAE attracts $8bn Arab Spring investmentThe United Arab Emirates attracted about Dh30 billion ($8.2 billion) of direct foreign investment last year, the UAE's prime minister said on Monday. Large amounts of capital fled Egypt, Tunisia, Syria, Yemen and other Arab co More… |
